A client of another practitioner (honest) has it in his head that the UK economy could collapse if we have a change of government at the next election.
He has substantial investments and does not wish to sacrifice a10-20% reduction in his assets (as occurred in Greece) if the you know what hits the you know what.
Therefore, he is seeking a country to transfer the bulk of his assets to that do not have a reporting arrangement with the UK.
So,
1. Is there such a country that has no reporting arrangement that would not be too risky.
2. If so, would such a transfer now be legal?
Replies (7)
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He's wrong
The UK economy could (& very possibly will) collapse after the next general election WHICHEVER party wins!
RM
Your point about the absence of a reporting arrangement with the UK is a non sequitur. You say client wishes to remove his assets from the jurisdiction to protect them from risk. That much is clear. But what has the presence or absence of a reporting arrangement with the UK got to do with any of that? Has the client got another agenda that you have not been told about?
Agree with johngroganjga
And another thing. A country with no reporting arrangement with the UK is going to be just as risky as the UK, and probably more so.
One [***] of light is that after September, Scotland will be available and will fit the bill perfectly. Or at least that's what the SNP say.
Tell him he may as well put it all on the 230 at Kempton Park. At least he'll get a good day out for his money.